People keep making this argument, but I don't see it.

Nobody is talking about arbitrary seizure of Russian money, they're talking about seizure of Russian money in response to blatant, unjustified aggression and war crimes, for the purpose of aiding the victims of Russia's atrocities. As a foreign investor that wouldn't bother me, because I don't have ties to a criminal autocracy.

Its not like every single Russian in the EU has had their assets seized... sanctions and freezes have targeted oligarchs and other individuals and companies with direct connections to Putin and the Russian government. These are the people who should pay for the war.

Beyond that, the argument that investors from other countries would be scared to invest in the EU if Russian assets are seized is nonsense. People who don't have ties to Putin aren't under any threat. The only people would would be scared away by the seizure of the assets of sanctioned Russians are others who want all the benefits of living in the civilized world while continuing to profit from corruption, exploitation, violence, and autocracy at home.

The threat of asset seizure means one of two things for such people: a) that they have a strong incentive to curtail the worst impulses of their home governments, or b) they should stay the fuck home. Either way, that's a win for the EU.